PMI-RMP - PMI Risk Management Professional Opportunity Response Strategies Questions and Answers

Question 1

A project team discovers that a new software algorithm could significantly improve the final product's performance, a key project objective.
To guarantee this benefit is realized, the project manager allocates top talent and additional funding to integrate the algorithm, making its successful implementation a primary focus.
Which opportunity response strategy is the project manager using?

Accepted Answer

Exploit

Answer

Enhance

Answer

Accept

Answer

Share

Question 2

A construction project identifies an opportunity to generate significant positive press by partnering with a local non-profit to build a community park on an adjacent, unused parcel of land owned by the client. The project team lacks expertise in park design and community engagement. They form a joint venture with the non-profit, agreeing to provide construction resources in exchange for the non-profit managing the design, public relations, and long-term maintenance. What opportunity response strategy does this joint venture represent?

Accepted Answer

Share

Answer

Exploit

Answer

Escalate

Answer

Accept

Question 3

During a technology upgrade project, the team identifies an opportunity: if the new server hardware is ordered from a specific vendor within the next month, they might receive a next-generation model at no extra cost due to an anticipated product line refresh. The project manager directs the procurement team to fast-track the vendor qualification and purchasing process to meet this deadline. This action is BEST described as which opportunity response strategy?

Accepted Answer

Enhance

Answer

Accept

Answer

Exploit

Answer

Escalate

Question 4

A project manager is running a project to develop a new mobile application. An opportunity is identified where a new, unproven programming language could potentially reduce development time by 15%. However, the team lacks expertise, and the potential benefits are not significant enough to warrant dedicated training or hiring. The team decides to take no proactive steps but documents the opportunity in the risk register to be revisited if other schedule delays occur. This is an example of which opportunity response strategy?

Accepted Answer

Accept

Answer

Exploit

Answer

Enhance

Answer

Share

Question 5

While executing a project to consolidate two corporate data centers, the project team discovers that the combined infrastructure could support a new, high-demand cloud service offering for the company's clients. This opportunity represents a significant new revenue stream but falls far outside the project's charter, budget, and the project manager's authority. Which of the following is the MOST appropriate response?

Accepted Answer

Escalate the opportunity to senior management or the portfolio review board.

Answer

Use the Exploit strategy to redirect project funds and pursue the new service.

Answer

Actively Accept the opportunity by creating a contingency plan for its development.

Answer

Use the Share strategy by finding an external partner to develop the service.

Question 6

Which statement accurately distinguishes between the 'Exploit' and 'Enhance' opportunity response strategies?

Accepted Answer

Exploit aims to make the opportunity's probability 100%, while Enhance aims to increase its probability or impact without guaranteeing it.

Answer

Exploit involves a third party, while Enhance is handled internally.

Answer

Exploit is a passive strategy, while Enhance is an active strategy.

Answer

Exploit seeks to increase the probability of an opportunity, while Enhance seeks to increase its impact.